Bitnomial Challenges SEC's Authority Over XRP Futures

According to PANews, cryptocurrency derivatives exchange Bitnomial has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), questioning its regulatory authority over XRP futures. Following Bitnomial's certification of XRP-USD futures contracts, the SEC classified XRP as a security and imposed additional compliance requirements on the exchange. Bitnomial contends that XRP futures should not be categorized as securities futures and is seeking a court declaration to prevent the SEC from asserting jurisdiction over them. This legal battle intensifies the ongoing dispute between the SEC and the Commodity Futures Trading Commission (CFTC) over the regulation of crypto assets.